The Bacolod Sangguniang Panlungsod is seeking an explanation from the Board of Directors of the Bacolod City Water District on its joint venture contract with Prime Water Infrastructure Inc..
The resolution authored by Councilor Wilson Gamboa Jr. also asked the Baciwa Board to provide the Sanggunian a copy of the signed joint venture contract with annexes, the contract review of the Office of Government Corporate Council (OGCC), certificate of successful negotiation with supplements, terms of reference and resolutions on the joint venture of the selection committee and the Board.
Baciwa and PrimeWater signed the controversial 25-year joint venture agreement (JVA) in Bacolod City on July 17. Prime Water will take over the BACIWA operations on November 1 following a three-month transition period.
Lorendo Dilag, BACIWA chairman of the board, said the partnership will bring in P6.3 billion in total investments from the Villar-owned utility firm in the next 25 years.
Dilag said it is practical, necessary and beneficial for the City of Bacolod because BACIWA has no financial capacity on its own to fund an expansion project that will answer the need for more water supply.
In the first five years alone, PrimeWater will pour in an initial P1.6-billion for pipe laying and after five years, it will invest P2 billion more for installation of wells, delivery of more water supply, and employees’ compensation, he said.
After 25 years, the assets put in place during the partnership will be turned over to BACIWA free of charge, Dilag added.*
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